News Column

U.S. Markets Rise on Upbeat China Data

September 10, 2013

Monica Gerson

wall street

US stock futures surged in early pre-market trade, after upbeat Chinese data. The NFIB Small Business Optimism Index for August will be released at 7:30 a.m. ET. Futures for the Dow Jones Industrial Average surged 76 points to 15,112.00, while the Standard & Poor's 500 index futures rose 8.90 points to 1,678.00. Futures for the Nasdaq 100 index gained 18.75 points to 3,183.75.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index surging 1.55%, London's FTSE 100 index gaining 0.73% and STOXX Europe 600 Index climbing 1.15%. German DAX 30 index rose 1.73% and French CAC 40 Index gained 1.36%. French industrial production declined 0.6% in July from June, versus economists' expectations for a 0.5% rise.

Asian markets ended higher today. China's Shanghai Composite rose 1.15%, while Japan's Nikkei Stock Average surged 1.54%. Australia's ASX/S&P500 gained 0.38% and Hong Kong's Hang Seng Index gained 0.99% and India's Sensex jumped 3.77%. China's industrial production surged 10.4% y/y, versus a 9.7% rise in July. The country's retail sales rose by 13.4% y/y in August. India's trade deficit narrowed to $10.9 billion in August, versus $14.17 billion in the year-ago period.

Broker Recommendation

Analysts at Piper Jaffray upgraded Fusion-io (NYSE: FIO) from "neutral" to "overweight." The target price for Fusion-io has been raised from $12 to $17.

Fusion-io's shares closed at $13.60 yesterday.

(c) 2013 Benzinga does not provide investment advice. All rights reserved.

Original headline: US Stock Futures Up After Upbeat China Data

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Source: (c) 2013

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